Ruth Harris
Token Christian,retired bad-ass level tech support
I read this article today, and found it very interesting. This is a gift link so anyone can read this article, even without a subscription: What Does It Really Mean
I agree with Peter Coy, the author of this opinion piece. We have expanded the meaning of living "paycheck to paycheck" to levels that are beyond reasonable.
I have lived paycheck to paycheck. When I say that, I mean that if my paycheck was one day late I couldn't pay my bills, buy gas to get to work, or get groceries. If something broke midweek, I couldn't get it fixed or replace it. I had no credit cards, savings, retirement account, or any extra cash at all. There were times that I mailed a check to pay a bill and prayed that it would not clear the bank before I could get my paycheck deposited. I lived on a very stringent budget and there were no extras in it; no cable tv (and sometimes not even regular tv when it broke!), no fun activities which cost anything, no driving somewhere "just because", no restaurant meals. The library was our favorite resource for entertainment as we were voracious readers and they also offered some children's programs which my son loved.
Living paycheck to paycheck should never mean that you have funds in an account that you can access if necessary. It means that you have no unused money if something unexpected happens. If you can access money set aside previously when you have an emergency, you are not living paycheck to paycheck. People who think that they are living that way would be horrified if they actually had to live "paycheck to paycheck".
Ruth
I agree with Peter Coy, the author of this opinion piece. We have expanded the meaning of living "paycheck to paycheck" to levels that are beyond reasonable.
I have lived paycheck to paycheck. When I say that, I mean that if my paycheck was one day late I couldn't pay my bills, buy gas to get to work, or get groceries. If something broke midweek, I couldn't get it fixed or replace it. I had no credit cards, savings, retirement account, or any extra cash at all. There were times that I mailed a check to pay a bill and prayed that it would not clear the bank before I could get my paycheck deposited. I lived on a very stringent budget and there were no extras in it; no cable tv (and sometimes not even regular tv when it broke!), no fun activities which cost anything, no driving somewhere "just because", no restaurant meals. The library was our favorite resource for entertainment as we were voracious readers and they also offered some children's programs which my son loved.
Living paycheck to paycheck should never mean that you have funds in an account that you can access if necessary. It means that you have no unused money if something unexpected happens. If you can access money set aside previously when you have an emergency, you are not living paycheck to paycheck. People who think that they are living that way would be horrified if they actually had to live "paycheck to paycheck".
Ruth